Mumbai: Not all IIT graduates are lucky to grab lucrative salaries as a new report on Tuesday revealed that students obtaining jobs with a higher CTC (Rs 50 lakh and above per annum) constitute only 5.5 per cent of the total pool, translating into just 960 students.
A team of campus recruitment experts at HirePro, a recruitment automation and assessments solution provider, analysed the data of placements at the IITs in 2022 and collated insights about compensation.
The analysis revealed that nearly 54 per cent of total students in the top tier of IITs (7,020) and 50 per cent of students in the next tier of IITs (2,250) receive job offers with salary packages in the range of Rs 10 to 16 lakh per annum.
About 11 per cent of students in the top tier (1,430) and 40 per cent of students in the next tier of IITs (1,800) ended up grabbing jobs with a salary range of up to Rs 16 lakh per annum.
"While many top-tier companies hire some of the best talent from IITs and from within the industry, they are not the ones who pay the highest salary," the findings showed.
The students from IITs in Mumbai, Madras, Delhi, Kharagpur, Kanpur, Guwahati, Roorkee, BHU Varanasi and Hyderabad campuses receive job offers with higher compensation in comparison to students from IITs Dhanbad (ISM), Ropar, Bhubaneswar, Gandhinagar, Jodhpur, Patna, Indore, and Mandi campuses.
However, the situation is gradually changing as a result of recruitment process innovation and the success of remote recruitment.
"Freshers at IITs have a wide salary range, which is consistent with how salaries behave in the New Age, tech and R&D-driven industries," the report mentioned.
IIT students from streams like computer science engineering, electronics and communication engineering, electrical and electronics, artificial intelligence and machine learning, and data science, secure the majority of job offers.
The campus recruitment experts at HirePro formulated a detailed analysis of CTC and gross salaries offered by various companies at 23 IITs.
Almost 90 per cent of students who participated in the placement accepted a job offer.
"The report dispels the myth that not all graduates from IITs, India's premier engineering institution, get hefty pay packages. Only a small fraction of them receive large compensation packages; the remainder are accessible for organisations to hire at reasonable pay scales," said the report.
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